Bright Realty's Eric Stanley Shares Insight on 121 Corridor Growth

Hundreds of North Texas real estate professionals attended the August 23rd "Road to Riches: 121 Corridor" event presented by Bisnow at the Sheraton McKinney. Experts on 121's growth addressed the long-term vision of the area, trends, challenges and, most importantly, forecasts. Bright Realty COO and President Eric Stanley served on the event's panel of experts along with executives from DFW International Airport, North Texas Tollway Authority, Craig Ranch, The Howard Hughes Corporation and area economic development corporations.

"Rent by choice" was one of several emerging trends discussed at the event. "Millennials are choosing multi-use live-work-play destinations over home-buying," said Stanley. "They want to be part of a community that offers walkability and convenience; a place they can live that offers instant access to entertainment, retail and work opportunities. The Realm at Castle Hills, which broke ground along SH 121 in June 2018, is one of these live/work/play/stay destinations, offering office, retail, entertainment and multi-family in one 324-acre address."

Other trends in new development seen along SH 121, and other emerging areas, is the desire to live in a "surban" location, one that offers an urban feel in a suburban location such as Lewisville or Castle Hills. Another trend being worked into projects in the area is community space that allows people to "be alone together." Creatively designed green spaces, lounge areas and water features, like those at The Realm for example, offer both a sense of community and connectedness, as well as privacy.

"The landscape is changing and we have to accommodate that in our long term vision," added Stanley.

Bright Realty has been an integral part of planning and growth in the 121 area for decades, having an early presence there with its Bright family farm and Castle Hills master-planned community, which has approximately 4,300 single-family homes, a unique rental home community, retail developments, private golf course and club, and luxury multi-family.